FXstreet.com (San Francisco) - The Dollar has continued with its weak mood against the Yen and after falling around 25 pips from today's highs at 78.70, the USD/JPY has broken down the 78.50 support and tested 78.45 Friday's low.
August consumer confidence added pressure to the Greenback with the unexpected drop to 60.6 from 65.4 in July. Analysts were expecting an improvement to 66.0
Currently the USD/JPY is pricing at 78.50, 0.30% below opening price action. According to Mark de la Paz, a break below 78.50 "will initiate 78.39. On the upside, the USD/JPY will meet calculated resistance at 78.62, 78.74, and finally 78.85."
August consumer confidence added pressure to the Greenback with the unexpected drop to 60.6 from 65.4 in July. Analysts were expecting an improvement to 66.0
Currently the USD/JPY is pricing at 78.50, 0.30% below opening price action. According to Mark de la Paz, a break below 78.50 "will initiate 78.39. On the upside, the USD/JPY will meet calculated resistance at 78.62, 78.74, and finally 78.85."
